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Labor Market Reforms and Their Impact on Formal Labor Demand and Job Market Turnover: The Case of Peru

Jaime Saavedra and Maximo Torero

No 3269, IDB Publications (Working Papers) from Inter-American Development Bank

Abstract: This paper analyzes the effects of several aspects of labor legislation that were modified through successive waves of reform since 1991. Firing costs diminished sharply through the progressive elimination of job security regulations, the introduction of temporary contracts and changes in the severance payment structure. Simultaneously, non-wage labor costs increased. This paper assesses the effect of these changes on the level of formal employment, the effect of regulations changes on turnover, and compares employment duration data for the formal and informal sectors using empirical hazards and parametric estimations of hazard functions.

Keywords: labor supply; labor demand; labor turnover; job security; labor law (search for similar items in EconPapers)
Date: 2000-05
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Citations: View citations in EconPapers (11)

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